The shadow of a worker is seen next to a logo of Russia's Rosneft oil company at the central processing facility of the Rosneft-owned Priobskoye oil field outside the West Siberian city of Nefteyugansk, Russia, August 4, 2016. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russia will sell a state stake in oil giant Rosneft (ROSN.MM) using the firm’s share price as of Oct. 11, when it stood at 748.3 billion rubles ($11.75 billion), Economy Minister Alexei Ulyukayev said on Monday.

Ulyukayev also said that proceeds from the sale will reach the state budget via dividends from Rosneftegaz by Dec. 15.